S&P Global Ratings assigned its 'AAA' long-term rating and 'A+' underlying rating to Round Lake-Brewster Independent School District (ISD) No. 2907, Minn.'s $20.5 million series 2023A general obligation (GO) school building bonds. At the same time, we affirmed our 'A+' rating on the district's existing GO debt. The outlook is stable. The 2023A bonds secured by the district's unlimited-tax GO pledge and are the first installment of $30.5 million in debt authorized by voters in a February 2023 referendum. Proceeds will go toward the construction of a new school building and various other renovations and deferred maintenance projects at school sites and facilities. The bonds are further secured by the State of Minnesota Credit Enhancement Program for school districts, which
